Maxim Going Straight GQ

Even though they are not necessarily tied at the hip it is still impressive to see quite a few semis completely ignore the MXL earnings carnage today. 

Maxim, in particular, remains a strong chart on its own merits on top of being an attractive buyout target. On the daily chart, below, note the MXIM tight basing action up here even after its recent advance. A few other semis fall into this category, which we will update for Members tonight. 

After the bell, we have DIS and YELP earnings, among others. DIS still looks to be in a bit of long-term technical trouble, not unlike NKE or SBUX. They could easily be old guard leaders transitioning into a more value-oriented role, which can often be a tedious process. 

YELP, on the other hand, has been a long-term laggard but is having a terrific 2016. I am looking to see if it stages a TWTR-like shakeout tonight or instead plays hard to get via shooting higher yet and cementing a turnaround thesis for diehard bulls.